WonderFi Labs Launches ZK Chain and Wallet on ZKsync, Pioneering Mainstream Onchain Finance Adoption

WonderFi provides access to DeFi through ZKsync’s Ethereum-level security, with scalability and cost-efficiency

WonderFi, a global leader in centralized and decentralized financial services and products, has launched a Layer 2 (“L2”) blockchain, powered by ZKsync, and a digital wallet on ZKsync’s Elastic Network, through its innovation arm WonderFi Labs. The new ZK Chain and wallet provide users with premier, innovative services and applications and connect them to decentralized finance (“DeFi”) through industrial-grade security and scalability at a competitive cost.

The decision to launch on the Elastic Network strategically positions WonderFi as a first-mover using ZKsync technology to give retail users seamless access to decentralized finance. Importantly, this integration unlocks a new universe of financial applications and services for WonderFi users, including lending, borrowing, staking, and decentralized exchange trading, subject to geo-restrictions. Acting as a gateway to DeFi and leveraging access to an ever-expanding network of applications and services within ZKsync’s Elastic Network, WonderFi’s ZK Chain and wallet will also be an innovation hub for crypto developers, allowing them to build and ship next-generation decentralized applications. This network and wallet will be available globally, but access may be restricted and geo-blocked based on the jurisdiction of a user.

"WonderFi is committed to continuously innovating our offerings to provide our users with a best-in-class experience. Launching on ZKsync marks the next phase of increasing the accessibility and scalability of WonderFi’s products – positioning us at the forefront of tech innovation in the crypto space. By integrating ZKsync technology, we gain scalability while ensuring unparalleled ease of use for new entrants to the DeFi space,” said Dean Skurka, President and CEO of WonderFi.

“WonderFi’s deployment into the Elastic Network showcases the capabilities of ZKsync’s technology to meet the needs of retail users while creating scalable blockchain solutions”, said Alex Gluchowski, Co-Inventor of ZKsync. ZKsync’s advanced ZK technology will empower WonderFi to offer its users unparalleled scalability, security, and low transaction fees. This integration drives a more accessible and inclusive onchain finance ecosystem, creating a seamless and accessible web3 experience that accelerates mass adoption, aligning with ZKsync’s mission to build web3 without compromise.”

WonderFi’s L2 joins ZKsync’s Elastic Network of ZK Chains that are designed to be natively interoperable and leverage ZK Stack to handle a significantly higher volume of transactions, thus reducing congestion and lowering fees. The launch of WonderFi’s L2 in testnet demonstrates how ZKsync’s scalable infrastructure can unlock mainstream adoption for retail-focused financial platforms. Furthermore, WonderFi’s freemium, gasless wallet - powered by ZKsync’s native account abstraction - will offer seamless access to the world of DeFi and NFTs, eliminating barriers to entry for new users.

Key Features

Through the launch of these products in testnet, WonderFi:

• Eliminates the "gas token paradox" where users need tokens just to start using the network

• Creates a sustainable economic model through power user fees rather than relying on external subsidies

• Removes complex fee calculations and gas management for casual users

• Maintains network efficiency through intelligent transaction prioritization

• Enables true decentralization without compromising user experience

• Leverages ZKsync to ensure the products can scale to meet any level of future demand

Now that the wallet and testnet for the L2 are live, users can:

• Start using DeFi applications immediately without any upfront costs

• Execute basic transactions and dApp interactions completely free

• Access premium features like priority processing when needed

• Seamlessly transition between free and premium services based on usage patterns

• Engage with DeFi protocols without technical barriers

More information on both products can be found at labs.wonder.fi.

About WonderFi

WonderFi is a global leader in centralized and decentralized financial services and products. With over $2.1 billion in client assets under custody, WonderFi's regulated trading platforms are well-positioned to service crypto participants on a global scale with trading, payments and decentralized products, including purpose-built blockchains and non-custodial wallet applications. Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the Company has a proven track record of launching new products and obtaining registrations. It is also the owner of market-leading brands, including Bitbuy, Coinsquare, SmartPay, Bitcoin.ca and Tetra Trust. As the world continues to move on- chain, WonderFi is strategically placed to capture both market and wallet share through ongoing innovation within the digital asset space.

For more information, visit www.wonder.fi

About ZKsync

ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with improved scale. Secured by math and designed for native interoperability, ZKsync enables the Elastic Network, an ever-expanding ecosystem of customizable chains. Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership widely available.

To learn more about ZKsync, visit http://www.zksync.io